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Registration number: 14141847

Busysky Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 30 May 2022 to 31 December 2022

 

Busysky Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Busysky Holdings Limited

Company Information

Director

J J P Priestley

Registered office

Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

Accountants

CHF Accountancy Limited
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

 

Busysky Holdings Limited

(Registration number: 14141847)
Balance Sheet as at 31 December 2022

Note

2022
£

Fixed assets

 

Investments

5

1,291,938

Current assets

 

Debtors

6

32

Cash at bank and in hand

 

25

 

57

Creditors: Amounts falling due within one year

7

(1,105)

Net current liabilities

 

(1,048)

Net assets

 

1,290,890

Capital and reserves

 

Called up share capital

8

1,317,519

Retained earnings

(26,629)

Shareholders' funds

 

1,290,890

For the financial period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 March 2024
 

.........................................
J J P Priestley
Director

 

Busysky Holdings Limited

Notes to the Unaudited Financial Statements
for the Period from 30 May 2022 to 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD
United Kingdom

These financial statements were authorised for issue by the director on 19 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Busysky Holdings Limited

Notes to the Unaudited Financial Statements
for the Period from 30 May 2022 to 31 December 2022

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Investment properties

 

Busysky Holdings Limited

Notes to the Unaudited Financial Statements
for the Period from 30 May 2022 to 31 December 2022

2022
£

Additions

7,132,001

Disposals

(7,132,001)

At 31 December

-

5

Investments

2022
£

Investments in subsidiaries

1,291,938

Subsidiaries

£

Cost or valuation

Additions

4,660,424

Provision

Provision

3,368,486

Carrying amount

At 31 December 2022

1,291,938

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

Subsidiary undertakings

Busysky Limited

Courtwood House
Silver Street Head
Sheffield
S1 2DD

England and Wales

ordinary shares

100%

6

Debtors

Current

2022
£

Other debtors

32

 

Busysky Holdings Limited

Notes to the Unaudited Financial Statements
for the Period from 30 May 2022 to 31 December 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

Due within one year

 

Trade creditors

 

205

Amounts owed to group undertakings and undertakings in which the company has a participating interest

100

Accruals and deferred income

 

800

 

1,105

8

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary A Shares of £1 each

1,317,519

1,317,519